Common use of Certain Designations of the Master Servicer and the Special Servicer Clause in Contracts

Certain Designations of the Master Servicer and the Special Servicer. (a) To facilitate the servicing and administration of the Pledged Mortgage Loans and any related REO Properties, the Master Servicer and the Special Servicer each shall retain in accordance with the provisions of the Servicing and Administration Agreement and this Indenture, all collections on the Mortgage Collateral prior to the time the collections are required to be deposited into the Bond Account. Solely for the limited purpose expressed in this Section 11(a), the Indenture Trustee hereby designates each of the Master Servicer and the Special Servicer as its agent and bailee to hold such collections of the Mortgage Collateral until the collections are deposited into the Bond Account. By the designation pursuant to this Section 11(a) and the acceptance of such designation by each of the Master Servicer and the Special Servicer pursuant to the Servicing and Administration Agreement, the Indenture Trustee, as secured party, is deemed to have possession of all collections on the Mortgage for purposes of Section 9-305 of the Uniform Commercial Code. Furthermore, possession by the Master Servicer or the Special Servicer of a Permitted Investment in respect of such collections, which Permitted Investment constitutes a "certificated security", shall constitute possession by a person designated by the Indenture Trustee for purposes of Section 8-313 of the Uniform Commercial Code. The Indenture Trustee shall have no liability or responsibility by reason of any act or omission of any such Person pursuant to such designation.

Certain Designations of the Master Servicer and the Special Servicer. (a) To facilitate the servicing and administration of the Pledged Mortgage Loans and any related REO Properties, the Master Servicer and the Special Servicer each shall retain in accordance with the provisions of the Servicing and Administration Agreement and this Indenture, all collections on the Mortgage Collateral prior to the time the collections are required to be deposited into the Bond Payment Account. Solely for the limited purpose expressed in this Section 11(a13.04(a), the Indenture Trustee hereby designates each of the Master Servicer and the Special Servicer to act on its behalf as its agent and bailee to hold such collections of on the Mortgage Collateral until the collections are deposited into the Bond Payment Account. By the designation pursuant to this Section 11(a13.04(a) and the acceptance of such designation by each of the Master Servicer and the Special Servicer pursuant to the Servicing and Administration Agreement, the Indenture Trustee, as secured party, is deemed to have possession of all collections on the Mortgage Collateral for purposes of Section 9-305 of the Uniform Commercial Code. Furthermore, possession by the Master Servicer or the Special Servicer of a Permitted Investment in respect of such collections, which Permitted Investment constitutes a "certificated security", ," shall constitute possession by a person designated by delivery to the Indenture Trustee for purposes of Section 8-313 301 of the Uniform Commercial Code. The Indenture Trustee shall have no liability or responsibility by reason of any act or omission of any such Person pursuant to such designation.

Certain Designations of the Master Servicer and the Special Servicer. (a) To facilitate the servicing and administration of the Pledged Mortgage Loans and any related REO Properties, the Master Servicer and the Special Servicer each shall retain in accordance with the provisions of the Servicing and Administration Agreement and this Indenture, all collections on the Mortgage Collateral prior to the time the collections are required to be deposited into the Bond Account. Solely for the limited purpose expressed in this Section 11(a13.04(a), the Indenture Trustee hereby designates each of the Master Servicer and the Special Servicer as its agent and bailee to hold such collections of the Mortgage Collateral until the collections are deposited into the Bond Account. By the designation pursuant to this Section 11(a13.04(a) and the acceptance of such designation by each of the Master Servicer and the Special Servicer pursuant to the Servicing and Administration Agreement, the Indenture Trustee, as secured party, is deemed to have possession of all collections on the Mortgage for purposes of Section 9-305 of the Uniform Commercial Code. Furthermore, possession by the Master Servicer or the Special Servicer of a Permitted Investment in respect of such collections, which Permitted Investment constitutes a "certificated security", shall constitute possession by a person designated by the Indenture Trustee for purposes of Section 8-313 of the Uniform Commercial Code. The Indenture Trustee shall have no liability or responsibility by reason of any act or omission of any such Person pursuant to such designation.